China Q3 GDP Growth Weakest Since Global Financial Crisis

The Chinese economy advanced 6.5 percent year-on-year in the September quarter of 2018, after a 6.7 percent growth in the previous period and missing market consensus of 6.6 percent. It was the lowest growth rate since the first quarter of 2009 during global financial crisis, amid intense tariff dispute with the US and alarming off-balance-sheet borrowings by local governments.

For the first three quarters of the year, China's economy expanded 6.7 percent compared to the same period 2017, amid continued efforts to deleverage debt and contain financial risks. Recently, S&P Global Ratings said off-balance-sheet debt by Chinese local governments could now be as high as CNY 40 trillion (USD 7.95 trillion), representing a “debt iceberg with titanic credit risks”. The value added of the primary industry was up by 3.4 percent; the secondary industry by 5.8 percent; and the tertiary industry by 7.7 percent.

Figures released earlier showed exports increased 14.5 percent year-on-year to USD 226.69 billion in September 2018, while imports grew 14.3 percent to USD 195 billion. The nine-month period trade surplus with the US was reported at USD 225.79 billion, up 15 percent from the same period of the previous year.

For 2018, the Chinese government targets growth at around 6.5 percent, the same as in 2017.

China Q3 GDP Growth Weakest Since Global Financial Crisis
The Chinese economy advanced 6.5 percent year-on-year in the September quarter of 2018, after a 6.7 percent growth in the previous period and missing market consensus of 6.6 percent. It was the lowest growth rate since the first quarter of 2009 during global financial crisis, amid intense tariff dispute with the US and alarming off-balance-sheet borrowings by local governments.Published on 2018-10-19

China Q2 GDP Growth Slows to 6.7%
The Chinese economy advanced 6.7 percent year-on-year in the second quarter of 2018, easing from a 6.8 percent growth in the previous preiod and matching market consensus. It was the weakest pace of expansion since the third quarter of 2016 amid intensifying tariff battle with the US and efforts to deleverage debt and financial risks.
Published on 2018-07-16

China Q1 GDP Growth Remains Robust
The Chinese economy expanded by 6.8 percent year-on-year in the first quarter of 2018, the same pace as in the previous two quarters and in line with market expectations. Growth was mainly supported by solid consumption, property investment and exports.Published on 2018-04-17

Chinese GDP Grows 6.9% in 2017
The Chinese economy expanded 6.8 percent year-on-year in the last quarter of 2017, the same as in the previous three months and beating market expectations of 6.7 percent. Considering full 2017, the economy grew 6.9 percent, well above the official target of near 6.5 percent and a 26-year low of 6.7 percent in 2016. Strong growth in industry and exports and a resilient property market were the main drivers of the expansion. For 2018, the Chinese government targets growth at around 6.5 percent, the same as in 2017 amid efforts to deleverage, contain debt and financial risks.Published on 2018-01-18